14 May, 2024
2 mins read

McGowan Acquires Assets of Parks Plus Underwriting Agency, LLC & Intersure Insurance Brokers Corp.

FAIRVIEW PARK, Ohio, Feb. 28, 2024 /PRNewswire/ — The McGowan Companies (“McGowan”) has acquired the assets of Parks Plus Underwriting Agency, LLC and Intersure Insurance Brokers Corp. (“Parks Plus/Intersure”) effective 12/31/2023. Parks Plus/Intersure is a national program manager that specializes in complex Property and Inland Marine risks within the Amusement and Entertainment industry. After the transaction, the staff of Parks Plus/Intersure will remain in place, led by David Chodzko [P:  (352) 610-9881 | E:  [email protected] ]

The McGowan CompaniesThe McGowan Companies

The McGowan Companies

David ChodzkoPresident & CEO, commented, “We are very excited to become part of The McGowan Companies. Their commitment to investing in and expanding our capabilities will accrue to the benefits of our policyholders.”

“This acquisition fits exceptionally well with McGowan’s national growth strategy,” said Thomas B. McGowan, IV, President/CEO of The McGowan Companies. He continued, “We are very pleased to add Parks Plus/Intersure’s suite of products and services to our diverse portfolio of companies. Parks Plus/Intersure has a strong tradition of providing exemplary products and services to its clients… a tradition we intend to honor and continue.”

Please contact Brett Davis or David Chodzko with any questions:

Brett Davis David A. Chodzko

Director of Acquisitions President & CEO

The McGowan Companies Parks Plus Underwriting Agency, LLC

20595 Lorain Road 2217 Pinta Avenue

Fairview Park, OH 44126 Spring Hill, FL 34609

P: (440) 333-6300 x2132 P: (352) 610-9881

E: [email protected] E: [email protected]

Legal Notice: Pursuant to an asset purchase agreement, Parks Plus Underwriting Agency, LLC and Intersure Insurance Brokers Corp. (“Parks Plus/Intersure”) sold certain of its/their assets, but note its/their liabilities, to McGowan Consolidated Insurance Holdings Group, Inc. or one of its subsidiaries/affiliated companies (“McGowan”), effective 12/31/2023. Parks Plus/Intersure was note merged with or into McGowan. Parks Plus/Intersure was note consolidated with or into McGowan. McGowan is

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Delta Insurance chief operating officer: “It’s all about trust and confidence”

“The rating process is mandatory for insurers in New Zealand but not for underwriting agencies such as ourselves,” noted Chaplin. “Rating for reinsurers and insurers gives the independent validation of an insurance company’s strength and quality, essentially, and it’s never been done for underwriting agencies before… I saw this as a way for Delta to be one of the first in the world to be given the equivalent of a rating that insurers get, which is called a performance assessment.

“So, we’re not rated because it’s not our capital, but we’re given a performance assessment which assesses the quality of our business. We thought it would be very important to get this assessment for those who buy our policy, giving them the confidence in the quality of our financial condition, our controls, our governance, our underwriting capabilities, etc.”

Read more: Delta Insurance to offer cyber insurance and security suite for SMEs

Aside from excellent, AM Best’s other categories for DUAEs are exceptional, strong, fair, and weak. The rigorous assessment process examines underwriting capabilities, governance and internal controls, financial conditions, organizational talent, as well as depth and breadth of relationships. According to Chaplin, Delta is only the second globally to get an excellent assessment.

“It’s all about trust and confidence,” the COO told Insurance Business. “All of our insurance business comes through professional insurance brokers, and it is very important to brokers to assess the quality and the security of the carriers who are providing coverage for their clients. So, with us now having this performance assessment, we believe that this will give our brokers and our customers a great deal more confidence and certainty.

“Delta is the first underwriting agency in Asia-Pacific to receive a performance assessment. So, this is very important to us to be really a

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